Developer plans condo-hotel on Clearwater Beach
By Breanne Williams
Tampa Bay Business Journal
Published: Jun 28, 2024

The developer behind an ambitious condo-hotel proposed in downtown Tampa is launching a similar project on Clearwater Beach.

Clearwater-based ARC Realty Group will build the eight-story CW Resort & Marina at 411 East Shore Drive in Clearwater Beach, overlooking the Intracoastal Waterway.

The project will have 91 units ranging from one to three bedrooms, including 11 penthouses. According to Luigi Novembre, vice president of real estate development and sales at ARC, pricing for the units starts at $651,250. Sales will launch on July 1.

“In the past 30 months, we’ve built three projects,” Novembre said. “If you’re looking to buy real estate and are an income-oriented buyer, hotel condos are a great option. You get the amenities of a hotel with the flexibility to rent out the unit and obtain that income in a high-tourism market.”

Construction is expected to begin in October and is estimated to be complete by March 2026.

Owners will have the option of using their residence or placing it on the onsite rental program for revenue. They can also rent out their condos using alternative platforms like VRBO, Airbnb or Hotels.com.

The project is designed by architecture firm BRPH. A general contractor has not yet been selected.

The CW Resort will have an amenity terrace overlooking the water. The terrace will include a heated outdoor pool with a hot tub, private cabanas, a fully equipped fitness center, a restaurant overlooking the water, and a bar.

The property will also have 24-hour room service and security, as well as airport shuttles, a concierge, poolside services and valet parking.

“In terms of vacation homes versus a condo hotel, the limitations of vacation homes are you don’t really have the hotel services and amenities,” Novembre said. “You don’t have guest services, housekeeping, pools and restaurants. We’re an alternative to vacation homes, and the strong response from buyers for our projects really shows us that these types of projects remain in high demand here.”

The property includes a 45-boat slip marina, 37 of which are available for purchase. The slips accommodate boats ranging from 35 to 60 feet. Owners can also put their slips into a rental program to earn additional revenue. Guests will have access to Jet Skis, boat rentals and charter boats.

ARC is offering a leaseback program at the hotel. According to ARC, buyers can lease their units to the developer “in exchange for a fixed 8% per annum income, for two years."

This will be ARC’s fifth project in the area.

Novembre said many out-of-state investors have flocked toward their projects, with a few local and a handful of Canadian and international buyers. He and Abid Chaudry founded ARC to specialize in niche projects. They are also behind Ocean Club Treasure Island and The Avalon on Clearwater Beach.

ARC also acts as a brokerage for their projects, though Novembre said they work with other brokerages. One of those brokers, Joel Greene of Condo Hotel Center, has worked with ARC on several of its projects.

“What makes CW Resort especially appealing is that besides owning a beautiful vacation home in a great location, owners will have an opportunity to rent out their residence and receive revenue,” Greene told the Tampa Bay Business Journal. “The developer has an unrivaled track record of building luxury condo hotel properties just like this that have exceptional occupancy rates and satisfied owners.”